INDIANA, Pa., June 15 /PRNewswire-FirstCall/ -- S&T Bancorp, Inc. (Nasdaq: STBA), a full-service financial institution with branch locations in 10 Pennsylvania counties, is pleased to announce the appointment of Malcolm Polley and David Finui to senior leadership roles for S&T Wealth Management Group.
Mr. Polley will serve as executive vice president and managing director of S&T Wealth Management Group in addition to his role as president and chief investment officer of Stewart Capital Advisors, a subsidiary of S&T Bancorp. Mr. Finui will serve as senior vice president and senior wealth management advisor for S&T Wealth Management Group. He was previously the vice president/director of business development, and financial services manager for the group.
- Malcolm Polley has nearly 25 years of experience in the investment/financial services industry, including almost 10 years of service with S&T Bancorp. Mr. Polley became chief investment officer in 2001 and established investment processes that transformed the department from three employees to nine. He then led the effort to form Stewart Capital Advisors, LLC, a registered investment advisory subsidiary, and transformed the company's assets under management to approximately $1 billion as of May 31, 2010. Mr. Polley also spearheaded the development of Stewart Capital Mid Cap Fund, an open-ended mutual fund that grew assets to $20 million in three years and a 4-star Overall Morningstar Rating™ among 368 mid-cap blend funds for the 3-year period ended May 31, 2010. The rating is based on risk-adjusted performance. He holds a Chartered Financial Analyst® designation and received a BBA in finance from Iowa State University.
- David Finui has worked in the investment/financial services industry for more than 30 years. Mr. Finui was senior vice president, chief retail officer and senior wealth management officer at Irwin Bank in June 2008 when Irwin was purchased by S&T Bank. Mr. Finui was also responsible for a branch network consisting of 10 retail offices, overseeing compliance, growth, sales training and strategic planning. In his new position, he is responsible for the oversight and management of sales and service strategies for S&T Wealth Management Group and S&T Financial Services*. Mr. Finui holds an MBA from Indiana University of Pennsylvania and a BS in mathematics from the University of Pittsburgh.
"Malcolm and David are both talented investment professionals who bring extensive experience and expertise to their positions with S&T Wealth Management Group," said Todd D. Brice, president and chief executive officer of S&T Bank. "As part of the group's senior management team, each will serve to enhance our strong position in the marketplace and provide our clients with excellent financial guidance."
For more information about S&T Bank, please visit www.stbank.com or call 800.325.BANK.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
You should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. For a prospectus, that contains this and other information about the Fund, please call 877.420.4440 or visit stewartcap.com. Please read the prospectus carefully before investing.
Stewart Capital Mutual Funds are distributed by Grand Distribution Services, LLC.
*All securities and advisory services offered through Investment Professionals, Inc. (IPI), a Registered Broker/Dealer & Registered Investment Advisor and member FINRA & SIPC. The investment services offered by IPI under the name S&T Financial Services are in no way affiliated with or offered by S&T Bank, nor is S&T Bank a registered broker/dealer. Customers working with S&T Financial Services will be dealing solely through IPI with respect to their investment, brokerage and securities transactions. The products offered by Investment Professionals, Inc. are not insured by the FDIC, the NCUA or any other agency of the government, are not deposits or other obligations for the Bank or guaranteed by the Bank and involve investment risks, including possible loss of principal amount invested.
About Morningstar Ratings
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. As of May 31, 2010, the Stewart Capital Mid Cap Fund received the following star rating among US-domiciled mid-cap blend funds for the following time period: 4 stars (among 368 funds) for the three-year period. Past performance is no guarantee of future results.
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About S&T Bancorp, Inc.
Headquartered in Indiana, PA, S&T Bancorp, Inc. operates 53 offices within Allegheny, Armstrong, Blair, Butler, Cambria, Clarion, Clearfield, Indiana, Jefferson and Westmoreland counties. With assets of $4.1 billion, S&T Bancorp, Inc. stock trades on the NASDAQ Global Select Market under the symbol STBA. For more information, visit www.stbank.com.
SOURCE S&T Bank